Multiples ISA maturity question.

Bob2000

I've currently  have 3 isa (fixed) with 3 separate banks, which all mature early May.
I was thinking about combining  them into one isa account. How easy  is this to do?

eskbanker

Straightforward, albeit it'll involve submitting three separate transfer requests to your new ISA provider.  Make sure you choose a product that accepts transfers in and that doesn't have too restrictive a funding window....

Bob2000

OK, thank you for replying. 
Do most isa providers allow multiple  transfer in of "old" money into the same account?

eskbanker

Bob2000 said:

OK, thank you for replying. 
Do most isa providers allow multiple  transfer in of "old" money into the same account?

If an ISA will allow one inward transfer then it should allow multiples, providing they don't fall foul of any short initial funding window.  I'm not aware of any limitations, but even if there were any, you could let your existing ones mature and roll over into easy access ones (assuming they don't restart new fixed terms) and consolidate them in turn, so that each ISA only needs to accept a single transfer, i.e. transfer the first into the second, then the combined balance into the third, then again into the new one....

Runner_Duck

I've consolidated 3 into 1 before now, but as mentioned for an ISA Bond you do need to be aware of any funding period.  I seem to recall that for one provider as long as they had the request to transfer within that funding window that was acceptable.  Do check before assuming this is true for all providers.  Rolling into an Easy access ISA and then into your final product might be best way.

Bob2000

eskbanker said:

Bob2000 said:

OK, thank you for replying. 
Do most isa providers allow multiple  transfer in of "old" money into the same account?

If an ISA will allow one inward transfer then it should allow multiples, providing they don't fall foul of any short initial funding window.  I'm not aware of any limitations, but even if there were any, you could let your existing ones mature and roll over into easy access ones (assuming they don't restart new fixed terms) and consolidate them in turn, so that each ISA only needs to accept a single transfer, i.e. transfer the first into the second, then the combined balance into the third, then again into the new one....

Yes l think I'll do that. It sounds the most sensible way.

Bob2000

Runner_Duck said:

I've consolidated 3 into 1 before now, but as mentioned for an ISA Bond you do need to be aware of any funding period.  I seem to recall that for one provider as long as they had the request to transfer within that funding window that was acceptable.  Do check before assuming this is true for all providers.  Rolling into an Easy access ISA and then into your final product might be best way.

Runner_Duck said:

I've consolidated 3 into 1 before now, but as mentioned for an ISA Bond you do need to be aware of any funding period.  I seem to recall that for one provider as long as they had the request to transfer within that funding window that was acceptable.  Do check before assuming this is true for all providers.  Rolling into an Easy access ISA and then into your final product might be best way.

Yes, the easy access isa sound like the best way forward.
Thank you.

PeskyBlunder

You might want to consider how long it will be before the combined ISA reaches the £85k FSCS compensation limit when you might be looking to split it up again.

Bob2000

PeskyBlunder said:

You might want to consider how long it will be before the combined ISA reaches the £85k FSCS compensation limit when you might be looking to split it up again.

I'm way below that limit. But thanks for the information  anyway.